Mobile Gaming Industry Continues to Soar, with Asia Pacific Leading the Way: Makreo Research Study

SAN FRANCISCO - March 15, 2023 - PRLog -- The mobile gaming market has reached a value of USD 60 billion with a Compound Annual Growth Rate (CAGR) of 12% from 2018 to 2022. The Asia-Pacific region holds the largest market share, followed by North America, with China, the United States, Japan, and South Korea being the top countries in terms of market share. The online gaming industry has grown significantly over the past ten years, with gamers all over the world spending more time online due to increased bandwidth and connectivity. The ease of use and accessibility of online gaming are major contributors to its success, with online gamers currently increasing four times faster than overall internet users.

Mobile gaming is the fastest-growing segment in the online gaming market, with low barriers to entry and less room for delays in developing and processing, proving to be a more cost-effective opportunity for developers, gamers, and publishers alike, especially during the Covid-19 pandemic. The market for mobile games is expected to expand due to the increasing smartphone adoption. In the coming years, the Asia-Pacific region is expected to hold the biggest market share, with China, Japan, and South Korea exhibiting significant growth potential. Countries such as Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam also have high potential, and the mobile gaming industry in these countries is expanding rapidly.

Mini-games, which can be played without downloading another app within mobile apps like WeChat, are gaining popularity, especially in China. China has more than 670 million gamers, and mini-games are easy to play and have significant social components. Germany is the most advanced gaming market in Europe, with mobile gaming holding a 55% share of the overall market and a 22% annual growth rate. Mobile gaming income has hit 2,275 million euros, with in-app purchases taking the lion's share of the market.

The 5G technology deployment is expected to boost the mobile gaming industry, with gamers willing to spend heavily on gaming equipment and accessories. Ubisoft partnered with Twofour54 to establish a games development studio in Abu Dhabi, which has helped the region develop a gaming sector and produce its own video games.

Find out more:- Mobile Gaming Market Report 2023-2028: Global Trends and Forecast by Source, Gamers Population, Expenditure on Gaming, and Regional Break-Up (https://www.makreo.com/report/mobile-gaming-market-report...)

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